Peak Partners launched a single manager forex fund; ex-Gandhara Capital executive Aileen Chang is starting a new Asia hedge fund named Kriya Uprofish Macro Fund; Trafalgar Capital Advisors partnered with Marylebone Fund Management Group to launch the PreIpo2Ipo fund (bridge financing); GAM A. M. launched a UCITS version of its offshore catastrophe bond fund; Galton Capital is preparing to launch a fund to capitalise on the opportunity offered in sales of distressed US mortgage portfolios; Hermes BPK Partners created an equity long/short FoHFs strategy seeded with $550m from an unidentified European institutional investor; SYZ A.M. is to start a managed accounts platform in cooperation with UBS; New York-based event-driven hedge fund firm Paragon Capital Advisors is launching its flagship offering to institutional investors; Hong Kong-based Rega Technologies plans to launch a China-focused long/short equities hedge fund in January with $40m in initial capital from partners, friends and family; and ex-SEB head of asset management Seppo Leskinen is to start his own advisory boutique in Singapore called Karelia Capital Advisors.